Everton have confirmed the appointment of new manager Ronald Koeman on a three-year contract.
The Dutchman was touted as an early contender for the post following the departure of Roberto Martinez in the final week of the Premier League season.
Koeman has spent the last two years in charge of Southampton, and despite finishing five places above Everton in the top flight last season, the 53-year-old is believed to have been convinced to make the move by majority shareholder Farhad Moshiri, who is expected to release a hefty fund for transfers this summer.
It took weeks for negotiations to be finalised due to Everton and Southampton trying to come to an agreement with regards to a compensation package, but now the Merseyside club have announced the news.
Chairman Bill Kenwright told the club's official website: "We are really pleased to have secured the man who was our number one target from the moment we set out to appoint a new manager.
"Ronald has such a strong track record in the game, instantly commanding respect for what he achieved as a player and for his qualities and accomplishments as a manager.
"The hopes and aspirations that we all have as Evertonians are with him, as is our total support at Board, shareholder and fan level."
As well as Southampton, Koeman has had managerial stints at Vitesse, Ajax, Benfica, PSV Eindhoven, Valencia, AZ and Feyenoord.
The former footballer, who played for Barcelona for six years, has won eight trophies, including three Dutch Eredivisie titles and the Copa del Rey, as manager.